Reach Capital has closed its fifth fund at $265 million, with potential commitments reaching $275 million. This represents a 23% increase from Fund IV, which raised $215 million in April 2023, in a context where many venture funds struggle to match their previous fundraises. The fund primarily targets seed and pre-seed investments, with a thesis centered on AI-native solutions in education and workforce development. Founded in 2015 by Jennifer Carolan, Wayee Chu, Shauntel Garvey, and Esteban Sosnik, the firm has backed companies including ClassDojo, Outschool, and Nearpod. Fund V excludes direct investments in crypto or digital assets, confirming its commitment to AI applications in these sectors.
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